DAVAO CTY (PIA) – The Pag-IBIG Fund has promoted a special loan program called Pag-IBIG HEAL or Home Equity Appreciation Loan that allows borrowers of good standing with an opportunity to borrow based on the appraised value of the property they mortgage with Pag-IBIG Fund.
Atty. Marie Antoniette D. Diaz, Pag-IBIG Fund senior vice president of the Member Services Operations Sector, mentioned this during their guesting in the Kapihan sa Bagong Pilipinas of the Philippine Information Agency Region XI in Davao City.
According to Pag-IBIG Fund website, this loan is based on the net value of the mortgaged property, which can be used to fund other needs of the borrowers.
The existing borrowers may apply for a loan at very low interest rates and under borrower-friendly terms, payable up to 30 years.
This is exclusively offered to Pag-IBIG housing loan borrowers who have maintained the good standing of their accounts by paying their monthly amortizations on time.
“If you are a good Pag-IBIG housing loan borrower, please contact us or view our website for more information on this program,” Diaz said in her presentation of accomplishments during the Kapihan.
Meanwhile, the Pag-IBIG Fund official has also urged qualified members to avail of the Socialized Housing Loan.
The qualified borrowers are members from the low-income or minimum-wage sectors.
Under this program, the qualified borrowers enjoy a subsidized interest rate of three percent per annum for home loans of up to P580,000 for socialized subdivision projects, and up to P750,000 for socialized condominium projects, applicable for the first five years of the loan.
Diaz said “this subsidy enables our borrowers to allocate the savings from reduced amortization payments toward other necessities related to their relocation, occupancy, or construction of their new homes.” (CLC/PIA Davao)
